Well-located 5-unit multifamily in the Drake area offering a rare mix of stability and immediate upside. Quiet building with a solid history of long-term tenancy and consistent performance. The property features four 1-bedroom units and one efficiency, with current rent levels positioned for strong cash flow: Unit 1: $800 Unit 2: $675 Unit 3: $500 Unit 4: $550 Unit 5: $800 Recent system improvements include a conversion to electric heat (previously dual furnaces). Tenants pay their own electric, with separate meters already in place. Landlord expenses are limited to water, house electric, and gas for the water heater, supporting favorable operating margins. Additional income and value features include: Coin-operated laundry in the basement 2-car detached garage Extra storage in the unfinished attic and basement This property is well-suited for investors seeking a low-turnover asset with multiple income streams, clean utility separation, and long-term hold potential in a proven rental location. Schedule a showing to review the numbers and evaluate the upside in person.
